One Source Portable Air, LLC leased 1,800 square feet of retail space located at 4191 W. State Street in Boise. Holly Chetwood and JP Green of TOK Commercial facilitated the transaction for the landlord and tenant.
Kilmainham, LLC purchased 452 South Park Ave. West in Twin Falls. Grayson Stone, Mike Greene and Peter Oliver of TOK Commercial represented the seller.
Fred Astaire Dance Studio leased 3,608 square feet of retail space located at 1511 W. Main Street in Boise. Holly Chetwood of TOK Commercial represented the tenant.
The beginning of 2022 continued to see strong activity from large industrial users with 25 percent of Q1 deals being over 10,000 square feet. The rise in large deals in addition to limited vacancy has ultimately pushed net absorption to record breaking numbers the past three years as well as sparked bigger speculative developments throughout the valley. Between the years 2015 to 2019, there were five speculative buildings delivered that were over 80,000 square feet.
CAK Properties, LLC purchased 1718 S. Millennium Way in Meridian. Chris Pearson and Patrick Shalz of TOK Commercial facilitated the transaction for the tenant and landlord.
UPS Store leased 2,400 square feet of retail space in the Eagle Island Marketplace, located at 6700 N. Linder Road in Meridian. Mark Schlag of TOK Commercial represented the landlord.
Jacksonia Corporation purchased a 10,000 square foot, 100% leased, Class A office building located at 2667 E. Gala Court in Meridian. John Stevens of TOK Commercial facilitated the transaction for the buyer and seller.
Nurturing Connections leased 3,077 square feet of office space located at 1379 E.17th Street in Idaho Falls. Dustin Mortimer of TOK Commercial facilitated the transaction for the tenant and landlord.
Home Health Environmental leased 3,250 square feet of industrial space located at 805 Northgate Mile in Idaho Falls. Dustin Mortimer of TOK Commercial facilitated the transaction for the tenant and landlord.
The amount of sublease space on the market has been increasing since the beginning of the pandemic, both locally and nationally. Many companies, such as call centers, transitioned their staff to work from home setups and some have decided not to return to the office. In many cases, those choosing not to return are national tenants whose policy across the nation is to remain in work from home situations. Pre-COVID, the amount of sublease space on the market in the Boise MSA was 137,000 square feet.